Loading organizations...
Key people at Stage Fund.
Stage 2 Capital is a venture capital firm focused on scaling business-to-business (B2B) software companies through active go-to-market (GTM) expertise. The firm distinguishes itself by leveraging a network of over 1,000 seasoned GTM leaders who serve as both limited partners and strategic resources. These experts provide hands-on operational support and strategic guidance to portfolio companies, often taking on roles as executives, board members, or advisors. Their investment scope includes diverse B2B software sectors such as Fintech, Artificial Intelligence, and Data & Infrastructure.
The firm was co-founded in 2018 by Jay Po and Mark Roberge. Roberge, notably the founding Chief Revenue Officer of HubSpot and a Harvard Business School lecturer, brought significant pedigree in building scalable revenue organizations. Their founding insight centered on the critical need for early to growth-stage B2B software companies to receive specialized, practical go-to-market guidance beyond traditional capital, enabling them to achieve predictable and efficient scaling.
Stage 2 Capital primarily serves B2B software companies poised for accelerated growth, helping them navigate complex market landscapes. The firm's long-term vision is to drive substantial, sustainable revenue expansion for its portfolio through its unique model of deep GTM engagement. By pairing capital with unparalleled operational expertise, Stage 2 Capital aims to transform promising ventures into market-leading entities.
Stage Fund is a Denver-based private equity firm founded in 2009, specializing in acquiring controlling interests in early-stage B2B technology and technology services companies facing capital structure changes, strategy shifts, or growth challenges.[1][2] As a majority female-led firm, it provides funding, management support, and operational turnaround services—often through its proprietary 100-day process—to venture-backed startups overlooked by traditional VC, targeting sectors like commercial products/services, retail, energy consumer products, software, and B2B tech.[1][2] With 11 acquisitions (latest being CleverFunnel Digital in December 2023), 2 investments, 1 portfolio exit, and 2 funds raised—including its inaugural fund—it impacts the startup ecosystem by offering lifelines to promising companies in tough funding environments, blending capital with hands-on restructuring via its Stage Restructuring arm.[1][3]
Stage Fund launched in 2009 in Denver, Colorado, as a private equity vehicle led by key figures like Krista Morgan (General Partner and CEO) and Wendi Burkhardt, evolving into a majority female-led firm focused on controlling stakes in distressed early-stage opportunities.[1][2][3] It emerged amid post-financial crisis dynamics, targeting B2B tech firms needing alternative funding when VC dried up, with a pivot toward operational support like go-to-market revisions and due diligence.[1] Pivotal moments include wrapping its inaugural fund and scaling to 11 acquisitions, including the 2023 CleverFunnel deal to bolster portfolio marketing services, humanizing its "roll up sleeves" approach to bottom-line results.[1][3]
(Note: Search results distinguish this from Stage 2 Capital, a separate VC firm focused on GTM-expert-backed B2B software scaling.[5])
Stage Fund rides the trend of capital scarcity for early-stage startups post-2022 VC downturn, filling gaps for B2B tech firms with product-market fit but stalled growth, amid rising interest rates and selective funding.[1][7] Timing aligns with market forces favoring operational PE over high-risk VC, enabling control and efficiency tweaks in sectors like software and energy products where traditional paths falter.[1][2] It influences the ecosystem by rescuing viable companies—preventing failures—and injecting management expertise, as seen in its restructuring arm and acquisitions, fostering resilience in a landscape shifting toward revenue-proven models.[1][3]
Stage Fund is poised to capitalize on prolonged funding caution into 2026, likely expanding acquisitions in B2B tech amid AI-driven GTM shifts and economic uncertainty, potentially growing its 11-deal portfolio via more service integrations like CleverFunnel.[1] Trends like multistage PE hybrids and female-led funds will shape it, evolving its influence from turnaround specialist to broader ecosystem stabilizer for overlooked innovators—reinforcing its core mission of delivering results when others can't.[1][2][5]
Key people at Stage Fund.
